Single Point Partners LLC Lowers Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Single Point Partners LLC cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,126 shares of the company’s stock after selling 220 shares during the period. Single Point Partners LLC’s holdings in American Electric Power were worth $269,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of American Electric Power in the first quarter worth approximately $27,000. Frazier Financial Advisors LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new position in American Electric Power during the fourth quarter valued at approximately $32,000. GoalVest Advisory LLC grew its stake in American Electric Power by 304.8% during the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in American Electric Power during the fourth quarter worth approximately $41,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the transaction, the executive vice president now owns 6,446 shares of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Barclays boosted their price objective on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Royal Bank of Canada boosted their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Scotiabank boosted their price objective on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $88.92.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.83 on Friday, reaching $87.05. 5,915,033 shares of the company’s stock were exchanged, compared to its average volume of 2,224,707. The firm has a market capitalization of $45.89 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.61 and a beta of 0.53. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44. The business’s 50-day moving average is $88.20 and its two-hundred day moving average is $83.90. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company earned $1.11 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.04%. American Electric Power’s dividend payout ratio is presently 65.31%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.